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Market Review

US:

The Dow closed just below the flat line Thursday as strength in tech, led by a rally Intel and Apple, was offset by weakness in energy.

Asia:

Asian shares eased from record highs on Friday as investor stook some money off the table after a recent rally that was driven by hopes a massive U.S. economic stimulus plan by incoming President Joe Biden will help temper the COVID-19 impact.

India:

Indian share market failed to hold record high hit in intraday and closed in the red on Thursday. BSE Sensex plunged 785 points from a record high of 50,184 to hit an intraday low of 49,398.86. While Nifty 50 index settled below the crucial 14,600, after hitting an all-time high of 14753.55 in intraday deals. Market is expected to open gap down and likely to witness profit booking during the day

Global Economy:

Japan's core consumer prices slumped in December at the fastest annual pace in a decade, a sign of intensifying deflationary pressures that sharpen the case for the central bank to come up with better ways to combat the deepening impact of the COVID-19 pandemic.

The nationwide core consumer price index (CPI), which includes oil but excludes fresh food costs, fell 1.0% in December from a year earlier, slightly less than a median market forecast for a 1.1% drop.

The number of people claiming jobless benefits in the U.S. fell last week but remained at historically high levels as the Covid19 pandemic continued to take its toll. The Labor Department said initial jobless claims fell to 900,000 from 926,000 the week before – a figure that itself was revised downward from an initial estimate of 965,000.

Commodities:

Oil prices fell in early trade on Friday, retreating further from 11-month highs hit last week, on worries new pandemic restrictions in China will curb fuel demand in the world's biggest oil importer. Gold eased on Friday as U.S. Treasury yields edged higher, although prices were set to post their best week in five helped by a weaker dollar and further stimulus bets.

Currency:

The dollar was headed for its worst week of the year on Friday, as investors cheered in the Joe Biden administration by buying riskier currencies and refreshed bets that a pandemic recovery could push the greenback lower still.

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